HP and Dell are involved in a bidding war over Fremont-based 3Par, the world’s “fourth fastest growing technology company.” The company close 50 percent higher on the stock exchange as a result.
Both HP and Dell are trying to get their hands on 3Par (NYSE: PAR), the Fremont-based company that produces hardware disc arrays and storage management software. Forbes recently called 3Par the world’s “fourth fastest growing technology company.” HP initially offered $24 per share for the company, but this was topped by Dell, which offered $24.30. On Thursday, HP countered with a $27-per-share offer for the company. Dell had originally hoped to acquire the company for $18 a share.
News of the latest HP bid jolted the company’s value on the stock exchange, with a closing price of $26.03, 50 percent higher than at the start of the day.
Read More at the Business Journal.